Sloboat Case Study

Sloboat Case Study March 7, 2013 capstone Seminar Sean McNamara, Matthew Sylvia, Michael Regghetio Analysis of Sloboat Case Study In this encase we take on the role of Rick Craner, the financial accountant for Sloboat Shipping Inc. Rick is go about with compiling, organizing, and evaluating the companys financial activity for the 2012 fiscal year. We are domiciliated with some(prenominal) notes on Sloboat financial transactions, and we are tasked with sorting through these transactions to provide a suitable evaluation and presentation of Sloboats financial standings at the end of the 2012 fiscal year.It is important to look at all of the transactions described in the case study before moving forward. The case study broke down these transactions into financing and drop. The undermentioned are transactions that occurred under financing * 7% bonds account payable issued on November 1, 2010 * impounds pay evoke semi-annually on May 1st and November 1st * commercialize interest rate on the date of issuance had been 8% * SSI discrete to retire 50% of the 7% bonds on August 1, 2011 * Additional 30,000 prevalent shares issued on June 14, 2011 * rough-cut dividend of $0. 5 per common share on declination 1, 2011 with date of record of celestial latitude 5th and distribution on December 20th The following are transactions that occurred under investing * SSI possess 250, 7. 5% bonds of OnCap Financial, purchased in late fiscal 2011, bonds paid interest on March 1st and September 1st and set to shape up on March 1, 2014. On January 31, 2012, the market decreased to 5% and SSI exchange all the outstanding bonds. * SSI owned 20,000 shares in Lowland Resources. On October 2, 2011 SSI authoritative a 5% ancestry dividend. Each share was trading at $22. 62. On December 15, 2011 SSI decided to sell 60% of its holdings (12,000 stocks).SSI paid a $400 brokerage fee. On February 29, 2012, the remaining shares were trading at record of Financial Position As at Feb ruary 28, 2011 ASSETS topical Assets interchange $ 12,736 adhere Investing Recievable 9,375 craft Investment-Stocks 468,600 duty Investments- marrys 260,156 Inventory 47,987 798,854 Property, Plant, and Equipment 742,108 742,108 amount Assets 1,540,962 Liablities & Shareholders Equity Liabilities Current liabilities bewilder interest payable $ 23,333 Dividends payable 11,250 34,583 Long-term liabilities 7% Bonds payable(1,000 bonds mautres 11/1/15) 961,694 961,694 make out Liabilities 996,277 Shareholders paleness $2. 25 cumlative, non-convertible preferred stock 37,500 150,000 trustworthy 5,000 outstanding Common stock 253,000 500,000 authorized 20,000 outstanding Stock dividend to be distributed 15,430 Retained earnings 238,755 Total Shareholders equity 544,685 Total liabilities and Shareholders equity $1,540,962 Cash Reciep ts and Disbursements For Fiscal 2012 Cash Reciepts Common Shares $ 610,500 Bond Investment 18,750 trading investing Bonds 272,331 Trading investing Stocks 268,610 Total $ 1,170,191 Cash Disbursements 7% Bonds Payable $ 528,517 Bond interest 52,500 Dividends 30,150 Total $ 611,167 * $19. 45 (8,000 stocks). Statement of Financial Position As at February 28, 2012 ASSETS Current Assets Cash $ (468,111) Bond Investing Recievable 9,375 Trading Investment-Stocks 468,600 Trading Investments-Bonds 310,644 Inventory 47,987 368,495 Property, Plant, and Equipment 742,108 742,108 Total Assets 1,110,603 Liablities & Shareholders Equity Liabilities Current liabilities Bond interest payable $ 73,821 Dividends payable 11,250 85,071 Long-term liabilities 7% Bonds Payable(1,000 bonds mautres 11/1/15) 480,847 480,847 Total Liabilities 565,918 Shareholders equity $2. 25 cumlative, non-convertible preferred stock 37,500 150,000 authorized 5,000 outstanding Common stock 253,000 500,000 authorized 20,000 outstanding Stock dividend to be distributed 15,430 Retained earnings 238,755 Total Shareholders equity 544,685 Total liabilities and Shareholders equity $1,110,603 Cash Reciepts and Disbursements For Fiscal 2013 Cash Reciepts Common Shares $ 610,500 Bond Investment 18,750 Trading investing Bonds 272,331 Trading investing Stocks 268,610 Total $ 1,170,191 Cash Disbursements 7% Bonds Payable $ 528,517 Bond interest 52,500 Dividends 30,150 Total $ 611,167 Bond Interest Payable $33659. 29 Bonds Payable $480847 Bond Interest Payable $16829. 50 Bond Interest Payable $33659. 29 Bonds Payable $480847 Bond Interest Payable $16829. 50 Trading Investments bonds $33659. 29 Cash $480847 Trading Investment Bond $16829. 50 Trading Investments bonds $3 3659. 29 Cash $480847 Trading Investment Bond $16829. 50 Debit Credit